Bond Investors Doubt Fed Clarity on Rates

Many bond investors are skeptical that the Federal Reserve will clearly signal a September rate increase at the conclusion of the central bank’s policy meeting Wednesday.

Fed Chairwoman Janet Yellen said earlier this month that the central bank was on course to raise the short-term benchmark interest rate this year amid expectations that U.S. growth will gain momentum. But many fund managers say the Fed’s plan to raise rates could be postponed by heightened uncertainty about the global economy, spurred by turmoil in China’s...